Philosophy 2730F/G Lecture Notes - Lecture 24: Invisible Hand, Egotism, Externality
11 Apr 2018
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If people want something; others will sell it: exit rather than voice, media works in idea of voice. Competition supply/demand: price is what drives competition; what might drive exchanges, competition among suppliers for business of consumers; what drives down prices. Capitalism amoral: defining feature that there is a robust set of property rights. Attractive features: efficiency (best captured by notion of invisible hand, autonomy. Media norms public interest: truth valuing, objectivity, representativeness. Public interest: democracy, truth, development of critical faculties, mil. Rights: non-interference (simply speaking of liberty right, diversity of perspectives (what comes along is first, is second right) Market failure: public goods non rivalrous, which sa(cid:455)s fro(cid:373) (cid:373)e havi(cid:374)g it; does(cid:374)"t e(cid:454)clude so(cid:373)eo(cid:374)e else fro(cid:373) havi(cid:374)g it, e. g. news, externalities negative. Non commodification commodification incomplete universal commodification: three approaches, thought universal non commodification, harmful to humanity, objects of trade, says news are incomplete commodification (page 62) and person, talk about quality of existence.
